Canadian Rental Service

Paladin bought by private equity firm

By Paladin Brands   

News Mergers, acquisitions, entries and exits

Sept. 7, 2011 – Paladin Brands Holding has announced that KPS Capital Partners, through a newly formed holding company, International Equipment Solutions, has entered into a definitive agreement to acquire Paladin and Crenlo from Dover Corporation.  Financial terms of the transaction were not disclosed.

Paladin is a North American provider of engineered
attachment tools for operator-driven equipment serving a wide range of
markets. Paladin operates four business units, each focused on specific
markets and products. Paladin Construction Group serves the
construction, landscaping, agriculture and aviation markets under
industry leading brands, including Bradco, McMillen, FFC, Sweepster,
Harley, JRB, C&P and CustomWorks. Paladin Demolition and
Recycling, through its Genesis brand, serves the demolition and metal
recycling markets.  Paladin Utility, through its Pengo brand, provides
augers and related tools for the utility and foundation drilling
markets.  Paladin Custom Material Handling, through its Jewell brand,
provides custom excavator packages for the demolition, forestry and
material handling markets.

Crenlo is a North American provider of steel cabs and roll-over
protective structures and electronics enclosures for customers
serving a wide range of markets.  In the operator interface cab segment,
Crenlo serves world class OEM customers in the construction, mining,
agriculture and specialty truck markets. Crenlo, through its Emcor
brand, provides standard catalog and custom products for customers
serving the technology, aerospace, government and energy markets.

David Burdakin, president of Paladin, said, “Our entire team at Paladin
is pleased to move forward under KPS and excited about their commitment
to manufacturing excellence and to supporting our future growth.  We
will remain focused on providing our customers with industry leading
products and unsurpassed service.”

Raquel Palmer, a KPS partner, said, “We are very excited to create
International Equipment Solutions. IES, by acquiring Paladin and Crenlo,
launches as the premier international engineered equipment
manufacturer, with an industry leading portfolio of brands and an
exceptionally strong reputation for quality, durability, delivery,
product support and product innovation. We intend to grow IES
aggressively both organically and through acquisition in North America
and globally. The combination of the company’s exceptional operational
expertise and strong customer relationships, combined with financial
resources provided by KPS, will facilitate IES’s global expansion,
especially in China, India and South America.” 


The closing of the transaction is expected during the third quarter of 2011 and is subject to customary closing conditions.

Related links
KPS Capital Partners
Paladin Construction Group formed

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